São Paulo – Last year, Tunisian startups achieved a turnover of TND 120 million (about USD 36.8 million at the current rate), a 67% increase over the previous year. Data are part of the 3rd Annual Report Startup Tunisia by Smart Capital, the company implementing a national program for startups in the Arab country.
Most investments came from education technology startups (Edtech), business software, and artificial intelligence (AI). These sectors accounted for 23% of the total business, with TND 24.4 million (about USD 7.3 million) achieved. Regarding the business model, 42% took place via B2B, mainly with European countries.
According to the Smart Capital report, angel investors directed TND 6.7 million (about USD 2 million) to Tunisian startups in 2021, with over 22 contributions throughout the year. The amount was TND 900,000 (about USD 276,700) higher than the previous year’s, 2020. An angel investor is an individual who invests financial resources in business.
In 2021, 129 operations were also concluded to attract local investments, totaling TND 45 million (USD 13 million) for Tunisian startups. Added to fundraising abroad, the value rises to TND 105 million (about USD 32.2 million) in investments.
News published by Tunis Afrique Presse (TAP)
In the opening picture, merely illustrative, the working environment of the Tunisian startup Cure Bionics.
Translated by Elúsio Brasileiro
